found addressed to a mississippi senator. palestinian prisoners they would rallies to support detainees held in israeli jails and called on the international community to act. divided and sliding into crisis venezuela's government and opposition blame each other for the. president nicolas maduro saying his rivals planning a. do or die protest or guantanamo u.s. military officials admit to hunger strikers tried to commit suicide as part of a desperate act of defiance which has dragged on for over two months now our top stories this hour. on screen around the world twenty four hours a day this is live from moscow

a letter containing the poison raisen has been sent to president obama comes less than a day after a similar toxic envelope was addressed to a mississippi senator these breaches of security come in the wake of the boston marathon bombings for which police now say they have a suspect and we're just getting news now that they have indeed arrested a suspect well for more on this from marty's marina porter who is in new york first of all let's talk about these poison letters but what do we know about those. well it seems like the amount of poison letters keeps growing and growing according to the f.b.i. and secret service let's start with the letter that allegedly went to u.s. president barack obama officials say that it contained a substance that preliminary has tested positive for the deadly poison rice and now the secret service said that the letter was intercepted on tuesday and never reached. the u.s. president and also say that they are not linking this letter to the boston marathon

bombings but on the same day on tuesday a letter containing rice and was mailed to the offices of mississippi senator investigators say a poisonous dress the offices of republican roger with her many might have never heard of was allegedly intercepted also before reaching capitol hill. reportedly tested positive for rice and three times before being sent to another lab for further testing. senator wicker and now extra security there's also reports coming out of another package. sent to another republican senator now being questioned or tested for. possible deadly poison so the list keeps growing and growing there's been. allegations of poisonous packages that have been proven false other ones that are now apparently being proven correct and or

positive but of course this is quite eerie some would call it a groundhog day because it's not the first time that this type of incident has happened just how tense is capitol hill now in the way called the boston bombings. i think the. people there are quite nervous and taking obviously bombings and fatal bombings very seriously but with this this poisonous mail episodes occurring in the past few days it's as i mentioned it's seems like a groundhog day we you know we should remember that shortly after the september eleventh attacks two democratic senators in washington were allegedly targeted with on the loops containing spores a congress was shut down for weeks to allow offices to be decontaminated this time the nation is on high alert just a few days after the boston marathon bombings and so the every single major city in

the country has stepped up its police force its counterterrorism force you can't go into a major city right now without seeing armed law enforcement. officers on the streets all over the place there is a heightened sense of of. alert security danger questionability it's not the calmest moment for the united states and of course this news of all the allegedly poisonous letters coming into elected officials you know just it's mounts upon this whole possible paranoia that can be permeating through the country briefly we are going to report some of the suspect being arrested in connection with those boston bombings do you know any more. that's right the information i know so far is that. suspect has been described as a dark skinned male and apparently it was the videotape that investigators

received from a nearby department store in boston and nearby to the marathon the the store according to reports is a lord and taylor and to the video that that store provided to f.b.i. officials it was somehow connected to the arrest of this suspect and the only information detail information that i have of the suspect that's been given out so far is that it is a male and dark skinned male but of course there are officials are going to be holding a press conference the next few hours once more information is available and we'll be updating our viewers what is more important with that update live from new york thank you very much indeed for that. activists and families of palestinian detainees kept in israeli jails or running across the palestinian territories to mock prison those doing the calling on the international community to intervene to release some inmates especially those on hunger strike ortiz middle east correspondent paula has the latest. we did witness a large scale protests across the palestinian territories palestinian prisoner day

is an annual commemoration and it marks the almost five thousand palestinian prisoners who are currently in israeli jails off that number of the five thousand some two hundred and fifteen are children now the day consolidate efforts to support palestinian prisoners in israeli jails and also support their right to freedom on wednesday some three thousand palestinian prisoners refused to eat meals now this action coincides with a hunger strike by a palestinian president some near a single week now he has been conducting an on off farce that has lasted more than two hundred and fifty days that has stoked weeks of protests from also street protests the palestinian government is calling on the european union to take immediate action concrete steps to secure his release at the same time at the beginning of april there was the death of a rather high profile palestinian prisoners being held in israeli jails of all him

via how he died from cancer but his death sparked mass protests because palestinians claim that these raids delayed bringing him treatment the palestinian minister of prisoners affairs says it is all is mistreating its detainees and preventing families of those palestinians who are currently in israeli jails from visiting them we carry a political message to the world reflecting the israeli government's inhumane dealing with prisoners we want to tell you israelis that it's an important national issue israel is mistreating its detainees and preventing families of those palestinians behind bars from visiting them they keep children in jails it's all inhumane and violates international law since nine hundred sixty seven around eight hundred thousand palestinians have been detained in israel at some point and the point needs to be made that hundreds of palestinians are held in israeli prisons without trial. venezuela's opposition leader has called off

a protest march and blame the government for post-election violence that has left seven people dead the country is on the edge of political chaos after a tiny majority in sunday's presidential vote showed the nation is essentially split down the middle. is incorrect. the opposition leader he basically said that he doesn't want to see any more violence and that he calls on his supporters to peacefully protest basically asking them to stay home and just bang the pots and pans it was a very noisy evening tuesday night here in caracas who initially they had planned to hold a protest in front of the electoral council in the city center but needless muddle he had bound any protests to take place in. stating a security reasons and so because someone who has been blaming the opposition for the violence seven deaths as you mentioned earlier but the us is saying that any violence that has happened it's the government who is behind it so they've been exchanging accusations now despite the ban in the city center we've seen

a real see reports that there are some people gathering in other parts of town to support herself. reports say that they're out to gathering in wreaking havoc in a press conference given by the two men on tuesday they really exchanged very strong words strong accusations model basically saying that. is running a coup and that it is backed by the united states everything that they are doing in another way of looking at it this perhaps is also planning to start to show himself you know he had run a campaign heavily based on google chavis and there are some even of his supporters saying that we don't really know who he is and what he's capable of so these are one of the few steps that we're seeing that's coming from him accusing him already of being a story teria now as far as money was concerned going on into this presidency we know that is already starting off very weak with that small margin for the results of the elections he has to fill in the shoes of without the charisma which obvious fix the problems of the people get the military the government and a very divided population in line. venezuela supreme court says there's no legal

basis for the recount the opposition leader capri lez is demanding but american secretary of state john kerry says they won't recognize my dear i was president without one nicholas kozlov fees author of chavez oil politics and the challenges to the us told me earlier that that is in line with the u.s. history of intervening in venezuelan politics if the united states was trying to destabilize things further in the wake of this election and it wouldn't be any great surprise we know that in two thousand and two basically the united states recognize the. cruel regime and. the support of the opposition and in the run up to the like first wild two or three day which ousted childish from power and recently there was that we keep leaks cable that was disclosed from the ambassador charles shapiro basically say look we need

to divide these this is how we're going to do it and so so by concretely you see in our cable the united states have been intervening in venezuela so i don't know whether and to what degree obama administration could be following similar patterns but it certainly historically the united states is has been very interventionist. all prisoners in guantanamo bay have joined the hunger strike bringing the number to fifty two u.s. military officials have admitted to protesting detainees have recently tried to commit suicide but they defended a prison guard raid on cells over the weekend which resulted in violent clashes with several inmates although now former senior politicians and members of the u.s. military have joined the chorus accusing officials of contributing to the spread of torture and independent american think tank released a report pointing to abuse at the guantanamo constitution project as it's called concluded it was beyond dispute that torture had been carried out or that the

practice has damaged america's moral standing and its ability to criticize others also suggests that u.s. personnel have actually been put at greater risk should they be taken captive and the panel concluded that the door remains open to more torture while no one is brought to account for what has all ready happened one of the critics former ambassador james jones says that most quantum of detainees have completely lost hope. you have the majority of these prisoners for whom our government has said there's no reason to hold them anymore we don't want them they're not there they're not accused of anything and yet they have not taken the actions that are necessary to remove these these prisoners from guantanamo and send them back to their home countries or to a neutral country where they will not be tortured force feeding under the circumstances we found is tantamount to torture what is inhumane is

a treatment for some prisoners in solitary confinement for many many hours at a time sometimes many days the separation from other prisoners so that you don't have that social contact that that is a form of torture that should be stopped i think the biggest torture however for the majority of the prisoners in guantanamo is the lack of hope the fact that they thought that after they were judged. by our government as not necessary not terrorist not needed for information that they should be released and now their concern in many of these that are on the starvation diet many of these i understand just last hope they think they'll never be able to leave guantanamo and that's the reason for their action when earlier i spoke to military attorney lieutenant colonel barry wing god who represents a tiny quantum and he said the situation is getting out of control that. my client

can dory had lost about one third of his body weight he now when he stands i can put my hands around his waist that's how much weight he has lost he now can't come to the visits he's made one of the three visits i've visited him more than one hundred fifty times and in that hundred fifty times he's refused four times because of his medical illnesses and he's always sent a letter of an apology this time he was unable to attend two of the three meetings i'm here to tell you the situation in guantanamo bay is becoming a humanitarian catastrophe these men have been there for eleven and a half years ninety five percent of them ninety five percent of them have no allegations let alone have a trial an opportunity to defend themselves ninety five percent of them have nothing alive and a half years hundreds of enhanced interrogations they have no hope they have no future i think that what we need is some leadership here from washington we have the administration on one hand saying we want to close guantanamo bay but then in

two thousand and ten saying that indefinite detention is the way forward we have congress saying it it doesn't matter if these people are innocent or guilty we want them to stay in guantanamo bay the rest of their lives now if you're a prisoner who has no opportunity to defend yourself what are you thinking what does the united states stand for to you what is the world thinking as they look at this situation it's utter despair and your i'm a tree attorney we've talked to a number of lawyers representing clients but you coming from the military itself why isn't you a voice being heard today nobody has been brought to account for the past eleven and a half years yesterday we found out that a bipartisan committee has concluded that torture in fact occurred we find out that you know going forward there is no hope for these men we find out that you know the administration just doesn't have any leadership do you want to close guantanamo bay do you want to keep it open doesn't matter that some in congress want to keep guantanamo bay open for. and over irrespective of if these individuals have

actually committed a crime or not why can you do how can you do that if two americans were captured would we then argue that they was men can be held until our war on the physical emotion of terror and would that be the us position i think not and it's time to analyze the situation. here in moscow still to come this a divisive figure a soul but a for some but cause to celebrate for this week some in the controversial legacy of former prime minister margaret thatcher off to her funeral in london. also still to come russia's top opposition activists is facing a decade in prison for alleged embezzlement a case he claims is politically motivated all the details on that and other stories after a short break. well . it's technology innovations all the developments from around

russia we've got the future of covered.

the international airport in the very heart of moscow. continues here in r.t. crowds turned out to say a last goodbye to former prime minister margaret thatcher who's been laid to rest in london however alongside the thousands paying their last respects where protesters gathered for what they called maggie's good riddance party the news of such as death at the age of eighty seven last week was met with both mournful comment and cheerful celebration she's famous for winning the falklands conflict against argentina and helping end the cold war however a number of a hardline policies did not sit well with lots of the public including a stand off with coal miners. he's an analyst at the real news network he watched the ceremony in london and got the impression people were questioning. his legacy rather than morning. in terms of pomp and circumstance not even when churchill was birthday nine hundred sixty five would we even get you know remotely close to what

we saw today in terms of production values it was absolutely simply extraordinary impractical to the millimeter i would say but if you look at the audience and if you look at the british ruling class congratulating itself inside st paul's cathedral and outside of course was the distinction between that and a sort of eerie silence in the streets i walked around the streets quite some time even after wards and even central london today was eerily silent it's something that you never see around leicester square and piccadilly around noon or one pm you know so it was devised if even people who are they were not exactly in mourning they were reflective but a lot of people were looking ok what now we were we going to have a like david cameron said in fact we're all facts are right now are we going to be

here in the u.k. tatchell rights for ever. such as tenure as prime minister subject to lively discussion on cross talk with peter levels gas offering very different takes on what defines a political legacy is a quick preview. she's a terrible disappointment but she had great power and. great responsibility i think that might be a quote from spider man but it's not funny margaret thatcher did tremendous things for the middle class in the sense that she was promoting them ownership she she she deregulated finance and reregulated finance to break the aristocratic club of the upper class she allowed the working class and the middle class to finally own their own homes and start their own businesses there's a reason why during her tenure the u.k. had the largest business investment the largest growth in business investment in europe is because i'm sure her policies were

a huge boon to entrepreneurs and i think the strong support she got from the working class bears that out and vindicates those policies like i said before she had a strong team pursuit of the city with some strong support from the working people and so do all the workers a life long term decline. go ahead the problem is that what you've gotten so well for long term decline. you to debate you can watch the full edition of crosstalk in just over an hour from now u.k. foreign minister has questioned the effectiveness of the magnitsky doorpost by the us david livingston said sanctioning individual russians does nothing to help the ongoing investigation into the death of lawyer sergei magnitsky one imprisoned russia responded by releasing a similar list sanctioning u.s. officials martin mccauley he's been covering russia for over forty years and he told me earlier that he thinks america has an egotistical approach to foreign policy which is the real reason relations strained. the british government has obviously taken the position that you don't need it act such as magnitsky act

passed into law he states he didn't need that naming russian officials to blacklist him and so on in an attempt to improve relations between the united states and russia and they will not improve human rights because from the ridge point of view the way to improve human rights is through quiet to diplomacy not megaphone diplomacy not to talk to the press and accusing the russians of a b. and c. but by talking behind the scenes and so are the american way of thinking and they would like their view of human rights they would like their view of a liberal democracy they would like their view of how an economy should be run by the rest of the world it's up to the rest of the world to respond in the vast majority of cases the rest of the world has a different point of view and therefore. the americans can articulate their view and the rest of the world will will. and there's really no meeting of the parties

at all time now for some other news from around the world in our world update this hour egypt's prime minister has been sentenced to one year in prison and stripped of his post for failing to comply with a court decision sham candle and his cabinet had been ordered to cancel the sale of state and cotton to a saudi businessman but he refused to implement the verdict. the trial of russia's top opposition activists has caused demonstrators to take to the streets as many as fifteen hundred people rallied in support of the anti corruption blog in the russian capital of all these trial was adjourned for a week after a brief called session he's accused of taking half a million dollars from a state run timber company he advised nearly four years ago the anticorruption blogger insists however that the case against him is politically motivated she is going to watch the court proceedings unfold in central russia you know the court hearing ended just around one hour after starting defense appealed to the judge to

reschedule saying they didn't have enough time to properly get ready and the judge agreed to reschedule for next week so i. exited the courthouse behind me surrounded by a crowd of journalists and supporters in fact we're told that some people had to camp out here throughout the night in front of the courthouse to get in since the room inside fits only around sixty people and there's a very heavy media presence and lots of supporters here as well earlier we saw two separate rallies taking place right across the street from one another one rally in support. and the other one i guess but both were conducted quite peacefully. a well known and controversial figure in russia first of all he's an opposition blogger who made his name by conducting his online anti corruption project he's also a fierce critic of the kremlin and one of the most influential opposition activists and leaders especially during last year. but the controversial side of.

open connection to russian nationalists now about this particular case the authorities are accusing. of organizing a criminal scheme to steal around a half a million dollars worth of timber from a state company this was back in two thousand and nine when he was the aide to the local governor here in cuba but. and his supporters claim that this piece is the political. parties you could go to what you don't call more website to get more comprehensive coverage on all of our stories are watching here on screen is what's waiting for you that now is secret footage of let me put in finds its way to be internet video footage of a close government meeting is leaked to the public showing russia's president calling regional leaders lazy. plus british troops on the far as one of them is investigated over the death of three afghan teenagers shot in the head and neck at close range the symbol free on r.t.

dot com. to bring you up to date for the moment i'll be back with the business team with the team the news team i should say in about half an hour from now i've got business on my mind because kate is standing right behind me here in the studio and she has the latest business for sketchy i understand that iceland and china seem to be striking up a relationship now yes indeed they got something that the other one wants an after year it went slightly cold on iceland the first domino to fall of course in the financial crisis so china wants to get involved in the arctic which of course iceland has has access to so it's all coming up in the business person with me katie after the break so join them.

a clear image of iraq after inflation. twenty day trucks a trip through the country. the roads are located. near evidence from north to south. the route of iraqi tragedy. after the war waiting for peace. taxi all our teeth.

more news today boylan says once again flared up. these are the images cold world has been seeing from the streets of canada. giant corporations are all day.

hello welcome to business with me katie program this evening here in moscow. now the global financial crisis of two thousand and eight ten ice ice and like a ship crashing into an iceberg the situation turned into a disaster for the economy with the feeling of being left out in the cold by europe so now iceland is warming up to china after signing a free trade deal with ice and this week ices g.d.p. of fourteen billion dollars powells in comparison to china's seven point three trillion dollar economy but what the country can offer is access to the arctic so as global warming and the polar ice retreat make this area of the globe increasingly accessible china is seeking to join the arctic council into

a governmental body that promotes corporation in the region normally given to all these countries that have access to the arctic on the map but because of where china is placed on the map it needs friends like iceland to get involved trade between ice and in china is small by global standards ices exports to china last year mainly fish actually a total of sixty one million dollars imported chinese goods and services valued at three hundred forty one million dollars earlier today i spoke to mull tom pirtle from the arctic institute on ice and frosty relationship with europe. i some said a little bit isolated in two thousand and eight during the economic crisis the european union did not really step in to provide financial aid and so on really welcomed chinese investment china build a new embassy it right to make china invested into eyes and to the icelandic

economy and so i think pfizer it's really a long term a long term goal that iceland really hopes that when this arctic development really takes off that i can be really one of the hottest. scandinavian countries. i think norway in general is very favorable to the norwegian foreign minister said a few months ago that no way was now welcoming the outsiders into the arctic council he said that it's better for these outsiders to join their club to join the arctic council than those outside of starting their own club and so i think over all that is agreement and that it is better to have cooperation with these outsiders and see how economic interests and environmental concerns can be can be managed jointly i think overall that's that's that's the. that's the mindset of course you know that difference between and between the various capitals i think

for canada canada has a more and more strategic interest in the arctic and wants to hold on to it stronger position in the arctic but i think for sweden norway iceland and to certain degree greenland and markets well i think they are not favorable that the states can become observers space and after all it is is just a reservist states that they are already observed in the arctic council they're not permanent observer so they have to get permission every single every single meeting to be to be an observer so not that much would actually change they would just be kind of permanent status a permanent observer status so. i spray. yeah that's a nice that's a nice saying actually to use them. as an ice breaker i think i think that is that is correct that china has definitely put most of its attention in the arctic on the smaller states on greenland we saw greenland a collection a few weeks ago and that was in part decided on mineral issues and mining rights

and a party that is more favorable towards towards allowing china in and invest money in greenland i won the election and so friendly favorable with iceland after the after the noble noble peace prize incidentally norway has warmed up again to china joining the arctic council so i think overall china has definitely focused on the smaller arctic states and as a state away from from canada are us. talking to the u.s. let's check out wall street and see what is going on right now i can tell you the tech stocks are taking a battering out she won of the worst so it is in the fulling mark about following a lackluster results from the likes of intel yahoo affably shares are down around five percent as well so as you can see all the tech shares listed on the. percent in negative territory also find out kills on energy stocks also declining this wednesday european stocks that now they actually managed to drop to their love with

close of twenty. five after the president of the bank in germany want the euro zone's economic recovery could take a decade also want to talk about the footsie as well around a percent in negative territory a few. results came out today. a bit listen as well as tesco as well among the major decline is on the report. they found the russian markets will be able to see what happened it's probably no surprise that they followed suit as well we've got negative results for the yes around to down the my things around one and a quarter really because oil is continuing its downward. well so while we're talking. this talk of the journey let's check out with journey on the oil markets we've got here just now this is what you're going to pay for a barrel right here so as you can see they are indeed going down down for the fourth day actually in five crude house fallen seven dollars

a barrel over the past week to its lowest level since december that says the outlook for global economy weakens well all supplies remain high so that's what you look at out right there that's we get the check out gold and see what happens is that in the spotlight this week continuing to going sound as you can see that's really is investors gold bonds at the fastest pace in two years in favor of equity is actually really compounding a slump that has wiped five hundred sixty dollars billion from the value of central bank reserves is a lot of money let me just repeat that five hundred sixty billion dollars from central bank reserves just to clarify ok let's see what's happening with the current system with see how the russian ruble got on and we'll be able to see against the u.s. dollar actually against its decline not having a good time of it it's recently lost two point two percent against the dollar the lowest level since december and as far as the year i still noise around the lowest

levels is twenty twelve so the four extra is on those people that maybe are going on holiday all right then let's move on i'm going to say russia russia may become a victim of the european recession and start contract thing as according to russia's prime minister dmitry medvedev in his annual report to the do you have the first as prime minister actually he explains how the government is trying to tackle these global challenges and how the economy is coping with domestic problems to slowing growth and increasing capital outflow. reports. the european recession will drag on speculating global growth that's the latest from the international monetary fund the i laugh at scott. estimates by a fraction he put. this actually globally he goes with that so i europe declined but still a very weak to feel compelled to hear that he shot what's interesting however is

that the i.m.f. is more optimistic about russia's economy than the russian government the minister of a couple of big development on trade below stuff has slashed russia's growth forecast to turn a half percent and that that the country's economy may be on track to take in the world so with this in mind prime minister better today face a tough who do have to address russia's forward house of parliament the state duma he describes the current state of the economy as long as he pointed out russian war deployments that the budget deficit but that did not impress cause the country's opposition to the prime minister was real about what his government is doing to address corruption capital flight and the oil dependency but that it defended the government's policy and described the opposition criticism as constructive it was

on top of the line the government's commitment to a recently i don't to the fiscal rule that faces government spending on the long term average oil price caps the budget deficit one per cent of g.d.p. . but on the last slip in this rule is especially important in a period when other countries are going through a recession and they could eventually happen to us is the time now when there is a risk of commodity prices falling it's an on two thousand and eight experience of a dramatic collapse of the oil price has taught us to follow the rules strictly i'm a little chillies. the feel sure of the government shutdown just put your risk for the russian economy will behold a baby take with president bush to take on big bird on the to flight simulator shows to shore up the way it's a road. well sort of business for now i'll be back in less than two hours with another edition but stay with finance hey i'll see we sit down with the russians

film up the minister of finance and deputy prime minister elect they could rent the fate of the for the. wealthy british style it's time to write let's go to. market. find out what's really happening to the global economy for a no holds barred look at the global financial headlines. climbs a report on our t.v. .

it.

live. a clear image of iraq after inflation. twenty day taxi trip through the country. the roads full of dangerous. clear evidence from north to south. the root of iraqi tragedy. after the war waiting for peace. taxi on our t.v. . hold it. hold it.

i. will clean. the speech. of her. with. her. mom it's so good. we. come out of it in the. carriage come out. and i am.

america international and world in the very heart of moscow. our team is sitting down with russia's former finance minister alexei kudrin thank you very much for joining us today now my first question is the peak of the crisis in cyprus seems to be over and it certainly underscored a huge number of problems in the european union from the instability in the euro zone to the sort of tough approach that we've seen the regulators take when it

comes to trying to solve financial crisis there did you for you this crisis was it unexpected. and you should missed it was the severity of the crisis that was unexpected i mean i had assumed the banks may have trouble getting capitalized but as you know these problems started once the greek debt was written off and cypriot banks suffered more from that than anyone else i had assumed that in such an event the european union should be expected to assist cyprus with everything it could do in order to mitigate the fallout from writing down the greek debt after all the write down was a collective decision taken by the e.u. but it did come as something of a surprise when the e.u. declined to bail out cyprus to the extent that it had earlier rescued greece i believe this course of action was not entirely consistent and that is why i said that the european union was fully responsible for the state of the cypriot banking system considering that cyprus is part of the union and of the eurozone schools i've also argued that there might be a spillover effect from cyprus to the banking systems of e.u.

neighbor states i don't believe the crisis is over but far from that it's presently at its peak and we don't know where it will eventually get us its outcome may prove to be better than expected or it could be worse but cyprus has not yet allowed depositors' to withdraw their money from cypriot banks especially from the biggest ones such as the bank of cyprus so far there is no way of telling what those depositors and investors will do will they all decide to pull out their money and some of them choose to stay so the outcome is so far on clear so if it happens to be worse than everyone is expecting it will draw. magically the situation for groups southern economies you know other words we cannot be certain that the crisis will not spill over onto other countries but right now there's a debate going on in terms of which countries are going to be next to be hit luxembourg spain italy what's your projection.

it is difficult for me to say slovenia maybe having it hardest at the moment but at least a crisis there would be relatively easy to contain some other countries it would be far harder to deal with that is why everybody is more concerned about portugal spain and italy these economies are presently in a tight spot and they're also getting more support than others as the european central bank is committing the bulk of its resources to bailing out these three countries however this support may prove to be ill timed or coma at a high cost if we can say that economies are both great and small are still facing risks do you think it's appropriate to talk about a certain hypocrisy when it comes to the european union considering they're fighting off shores right now yet have territories such as cyprus and british virgin islands. it does have a touch of double standard policy about if those nations have an opportunity for shutting down those offshore havens they certainly should have done so as

a good. who do you think is primarily responsible for the fact that offshore schemes are being conducted right in front of the regulators eyes do you think it's the regulators themselves the banks. the media the scale and scope of the two thousand and seven two thousand a crisis in the context of a globalized world was impossible to predict the magnitude of the crisis took everyone by surprise the crisis has taken its toll on every economy the u.s. is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had

allowed a boost in spending without securing revenues are driven as they often are by populist russia now as a result those economies were essentially living on credit i believe that one of the major precursors to the crisis has been exactly the fact that politicians who oversaw an accumulation of debt back when their economies were enjoying positive economic growth growth periods should normally be used to reduce debt when the crisis broke out those economies found themselves ridden with debt with no reserves to use as a safety cushion therefore i think politicians are primarily responsible for the fall at a rather a direct question now what happened in cyprus can we describe this is an action to expropriate russian money and in general how much money did russia lose out on this or do you agree with president vladimir putin saying that what happened there is going to make investors more inclined to keep russian money to keep their money in russia. i wouldn't call. an action to expropriate

russian money since there were not too many options to choose from this is a very unpleasant way to deal with the problem maybe even the worst possible plan but at least this is some kind of solution there was a better way to deal with the situation though i think that the e.u. should have given more money to cyprus however the e.u. also depends on the politics of its member countries they didn't want to cover the losses of investors from other countries most of the investors were from russia and the u.k. which german taxpayers don't care much about russian or u.k. investors which that's why the choices were limited but again the e.u. had enough resources to solve this problem and be done with it they didn't have to go with the worst case scenario i think it was a better choice coming investors' money is always the worst solution it's the worst case scenario that set a bad precedent which can cause crises in banking systems of less developed european countries everybody knows now that this scenario can be used in other

countries as well. in general the crisis in cyprus and the off shore leak scandal the fact that they more or less come at the same time is this a coincidence percent of the to. say that it may not be a coincidence and there are some facts that support this view as we know there was a major smear campaign in european countries there was a discussion of illegal russian money hidden in this zone as a result of the public had a negative view of russian bank accounts in cyprus i can't really tell if russia was targeted specifically for this punishment but there are some facts that support this idea. now there's currently a pretty strong anti offshore campaign ongoing clued in the campaign against tax evasion which the organization for economic cooperation and development has gotten involved in why do you think it is that for decades everyone seemed to be fine with offshores and now it really seems to be kind of the main counsellor in the european

economy. political course that is a perpetual issue when there is enough money there there is a feeling that it's ok to spend more or to increase taxes for your taxpayers so finding money doesn't seem such a problem of course but once the current crisis broke out the g twenty was the first to come up with a list of offshore financial centers that were to be placed under regulatory oversight i was present at that meeting some three years ago and it was france which initially brought up this issue since france has been exposed to rampant capital flight to offshore banks for purposes of tax avoidance and when economies find themselves in a fix and there is no more room for the government to raise taxes that is when they go looking for runaway capital to taxes so the crisis has supposedly made it a pressing issue the political there is a certain impression that problems in the european union and the united states here seem to be sort of piling up and not being dealt with debt unemployment dealing

with the financial sector do you think there is really some kind of gentle way of getting out of these problems or do you think that the crisis will show its face yet again somewhere. this is the biggest question which everybody is concerned with at the moment a central banks adopt policies to mitigate the crisis and governments raise taxes or reduce them in order to stimulate the economy. everyone is wondering whether we are actually solving the problem or merely deferring it maybe we are just biding time to reform our banking system but either our reforms are difficult to implement or there is not enough time undoubtedly there are fears that the crisis may still escalate we're already witnessing a double dip recession in europe europe is probably looking at another year in a recession if this brings for the meltdown of two thousand and eight which means it is being hit by a second wave of the crisis and everyone is wondering whether double dip recession

will become a worldwide phenomenon so far it's difficult to predict anything with a degree of confidence but since all of the inefficiencies and imbalances remain unresolved to date there is a chance of a global second wave now in a more general question do you think people are living in developed countries are prepared to change their model of consumption their lifestyles are they ready for something like that. this is a good question politically i think you know it is ready but it's very hard to make such a decision whether personally or politically to cut health care education and road infrastructure it's very hard to decide to restrain oneself and it's difficult for people to agree to such measures this isn't something they would want to do yet it is something that they'll have to do at some point those countries that come to terms with it quicker will probably get an additional chance of becoming more competitive in the future now question more about you would you be attracted by by

the opportunity of working in the russian government again. that we're going to show no posting here we go to i've answered this question a number of times before it's not up to me to decide whether i should work there or not if the government should be appointing people to work that but i strongly disagree with the present government's policy which was actually the reason i stopped working there i would be interested in implementing a different policy though but this isn't an option at the moment so i'm not driving to work in the government right now. if you don't have your now becoming the head of russia's central bank do you think women in finance says is that a new trend or will it still be a man's world after all. i think it will be a trend but a slowly growing one generally women will expand their role in society due to emancipation and more equal rights in all areas of life in this sense the role of women has been underdeveloped and of undeservingly constraint. there were many

reasons for it such as traditional views and other difficulties that stopped women from being just as equally independent and committed to work but this will be changing over time so i believe this is a long term good slowly progressing trend in that i would alexei kudrin thank you very much for your time with us today thank you. sometimes you see a story and it seems so. you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything is. welcome to the big picture.

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